The man who spent decades betting Americans wouldn't give up the mall has died. David Simon, the hard-driving chief executive who turned his family's Indiana real-estate outfit into the country's dominant mall owner, died Sunday at 64 after being diagnosed with pancreatic cancer in 2024, the Wall Street Journal reports. As CEO of Simon Property Group for more than 30 years, he built a portfolio of roughly 250 properties and more than 200 million square feet of retail space—making him a central figure in American shopping even as critics predicted malls' demise. He was one of the youngest CEOs in the country when he ascended to the role at 33, and he remained in the driver's seat until his death.
Simon was known as both intimidating negotiator and reliable closer, famous for profanity-laced showdowns that often ended in handshakes and long-term partnerships. He spent more than $40 billion buying rivals, shoring up his centers by acquiring troubled retailers like JC Penney and Forever 21, and adding tenants from luxury brands to gyms and restaurants. The strategy helped push the Simon family's fortune to an estimated $11.6 billion and made Simon Property Group the biggest mall owner in the US. The board has named his eldest son, Eli—already chief operating officer—as CEO and president of the company originally founded by Simon's father and uncle, the Indianapolis Star reports. Simon, a Columbia Business School graduate and major donor, is survived by his wife of more than 40 years, Jackie, their five children, and seven grandchildren.